US:Practically Owned' by China

[SK-1]

The US supremacy as the top world economy will end sooner than many people believe, so gold is a better investment than the dollar despite it hitting a new record, Tom Winnifrith, CEO at financial services firm Rivington Street Holdings, told CNBC.com Monday.

Gold [XAU=X 1308.0 -0.80 (-0.06%) ] hit a new record high Monday and silver [XAG=X 21.76 -0.11 (-0.5%) ] rose to another 30-year peak as investors were worried about the dollar weakening further after the Federal Reserve hinted at more quantitative easing last week.

The US trade deficit and debt continue to grow and the authorities are reluctant to address the problem, preferring to print money, Winnifrith said.

"America is practically owned by China," he said.

He reminded of the fact that in 1900, sterling was the world's reserve currency but by 1948, that was no longer the case as the British Empire collapsed.

"America is doing what Britain did," Winnifrith said. "America spends much more than it can afford and it's not addressing the issue."

In 1832, China and India were the world's two largest economies and by 2032, they will regain that status, he predicted.

"The 200 years when Britain and the US were the top two economies were an aberration and that will change," Winnifrith said.

"The decline of empires has happened much faster than folks think. I believe that gold will be a far better bet in 20 years than the dollar," he added.

OUCH:http://www.cnbc.com/id/39376706

[xaira]

meh so whats new, where im from the driving force of the economy is the 50% of oil revenue the govt takes from the oil companies, americas chief natural resource is the private sector, but the govt lets rich people put their money into bank accounts doing nothing instead of telling them hey, either spend it or well take it!!!!

[ProgressiveTokyo]

Fact: China only owns about 8% of the US Debt.

This article (while it is a good piece about American finances and how the American public should wake up) is based on a falsity.

[DaMulta]

I just heard a crazy thing.....if we fuck with China...They could just block exporting rare earth metals that could really fuck with our military.....

We will so go to war with them one day. It's almost unavoidable, and with Russia really getting in bed to fuck China to make little commie babies....Cold War is just around the corner again.

[ProgressiveTokyo]

I just heard a crazy thing.....if we fuck with China...They could just block exporting rare earth metals that could really fuck with our military.....

We will so go to war with them one day. It's almost unavoidable, and with Russia really getting in bed to fuck China to make little commie babies....Cold War is just around the corner again.

Cold my ass.. this baby is gonna get hot.

Why do you think the Japanese arrested that ship captain and have been ramping up the tensions. The US will use the Japanese as a proxy. Same as it ever was.

[FordGT90Concept]

I just heard a crazy thing.....if we fuck with China...They could just block exporting rare earth metals that could really fuck with our military.....
Like?

We got more Uranium in the USA than China does. That's about as rare as it gets.

[ProgressiveTokyo]

Like?

We got more Uranium in the USA than China does. That's about as rare as it gets.

Dude Ive read many of your posts.. and I know you are smart as hell.. so I really hope you are being sarcastic here

[DaMulta]

Here is a little story over it Ford'

http://www.reuters.com/article/idUSTRE68T68T20100930

[SK-1]

The USA bailed China out in WWII, this debt to China thing is just a friendly act on China's part to say thank you for the help.

[jmcslob]

Here is a little story over it Ford'

http://www.reuters.com/article/idUSTRE68T68T20100930

If I remember right US geologists found that Afghanistan holds the key to ending China's grip on Rare earth metals...


Now I gotta go find a linky
EDIT:
Wow that only took a minute
http://smarteconomy.typepad.com/smart_economy/2009/09/the-real-reason-for-the-war-in-afghanistan-control-of-rare-earth-metals-in-afghanistan.html

[FordGT90Concept]

http://en.wikipedia.org/wiki/Rare_earth_element

Mostly lasers and magnets. I think we should be researching ways to create rare earth metals from more abundant resources. The reserves will eventually run out, one way or another. It just so happens USA has already depleted its reserves and China has not yet.


Dude Ive read many of your posts.. and I know you are smart as hell.. so I really hope you are being sarcastic here
I've been feeling like shit today. :(

[DaMulta]

Truth be known now....MacArthur could of been right......Cause now there is no way we could do it(unless we plant a crap load of suitcase bombs...even then) without melting the Earth like a match head.

It's about time to bring the Doomsday clock out again......As long as we are all making money there will be no issues, but that could end really really fast.

[DaMulta]

If I remember right US geologists found that Afghanistan holds the key to ending China's grip on Rare earth metals...


Now I gotta go find a linky
EDIT:
Wow that only took a minute
http://smarteconomy.typepad.com/smart_economy/2009/09/the-real-reason-for-the-war-in-afghanistan-control-of-rare-earth-metals-in-afghanistan.html

Conspiracy time....Did the US know about this before, but needed time to get in to really see it/access it?

I remember them finding a huge find of lithium....time to take a gander to see if that's what your talking about.

[DaMulta]

Backpedaling, China Eases Proposal to Ban Exports of Some Vital Minerals (http://www.nytimes.com/2009/09/04/business/global/04minerals.html?_r=1)Published: September 3, 2009

[btarunr]

It's almost unavoidable, and with Russia really getting in bed to fuck China to make little commie babies....Cold War is just around the corner again.

Nah, we Indians keep Ruskies off China, limit Chinese influence over the Himalayas, and we're a functioning democracy.

[DaMulta]

Nah, we Indians keep Ruskies off China, limit Chinese influence over the Himalayas, and we're a functioning democracy.

Did you miss this headline? Oil is the key(▲)-->Power

7tF680Dbk0Y

[btarunr]

Did you miss this headline? Oil is the key(▲)-->Power


Oil isn't power, money is. India-Russia has ~$200bpa trade, and Russians lost a lot of military technology to Chinese reverse-engineering (eg: they sold Su-27, Chinks reverse-engineered it and came up with Shenyang J11). Chinese-Russian trade is limited to gas, and it's pocket-change compared to Russia-Europe gas trade, or India-Russia petroleum, metal, or military hardware trade.

[DaMulta]

How isn't oil power? If you buy oil on the world market. You have to use US Dollars. Which more or less means countries have to trade to buy US funds to buy Oil. It's why the EU wants to buy oil direct with Euros.

(Gold I wonder who controls that(or is that just a world standard))

[de.das.dude]

The US supremacy as the top world economy will end sooner than many people believe, so gold is a better investment than the dollar despite it hitting a new record, Tom Winnifrith, CEO at financial services firm Rivington Street Holdings, told CNBC.com Monday.

Gold [XAU=X 1308.0 -0.80 (-0.06%) ] hit a new record high Monday and silver [XAG=X 21.76 -0.11 (-0.5%) ] rose to another 30-year peak as investors were worried about the dollar weakening further after the Federal Reserve hinted at more quantitative easing last week.

The US trade deficit and debt continue to grow and the authorities are reluctant to address the problem, preferring to print money, Winnifrith said.

"America is practically owned by China," he said.

He reminded of the fact that in 1900, sterling was the world's reserve currency but by 1948, that was no longer the case as the British Empire collapsed.

"America is doing what Britain did," Winnifrith said. "America spends much more than it can afford and it's not addressing the issue."

In 1832, China and India were the world's two largest economies and by 2032, they will regain that status, he predicted.

"The 200 years when Britain and the US were the top two economies were an aberration and that will change," Winnifrith said.

"The decline of empires has happened much faster than folks think. I believe that gold will be a far better bet in 20 years than the dollar," he added.

OUCH:http://www.cnbc.com/id/39376706
Hell yeah!!! just wait till us take control of India and the youth will revolutionize!!!
stupid old politician bastards are just clogging up the system with their fucking corruption and illegal stuff.

[FordGT90Concept]

It's about time to bring the Doomsday clock out again......As long as we are all making money there will be no issues, but that could end really really fast.
It's never gone away. We are currently at 6 minutes to midnight:
http://www.thebulletin.org/content/doomsday-clock/timeline

The Doomsday Clock only reflects nuclear holocaust though--not conventional war.

[WhiteLotus]

(Gold I wonder who controls that(or is that just a world standard))

No idea but the UK has a shit lot of it thanks to the commonwealth, even after Brown sold £400billion of it.